In 1822, London society was captivated by the prospect of Poyais, a newly discovered, lush, and incredibly resource-rich nation in Central America. Its Cazique, a charismatic Scottish war hero named Gregor MacGregor, painted a picture of a utopia ripe for investment and settlement. There was only one problem: Poyais did not exist. Sovereign Fraud unearths the staggering audacity of one of the greatest confidence tricks in human history. MacGregor didn't just tell a lie; he manufactured a reality. He printed fake currency, forged elaborate constitutional documents, and even composed folk songs for a nation comprised of nothing but impenetrable, malarial jungle. This book explores the psychological and economic vulnerabilities of the 1820s British bond market that allowed such a massive deception to occur. It details the tragic fate of the hundreds of eager colonists who sailed to their deaths, expecting a promised land and finding only untouched wilderness. Explore the ultimate anatomy of a financial bubble. MacGregor's terrifyingly successful scam serves as a timeless masterclass in the human capacity for greed, the illusion of authority, and the deadly consequences of investing in a compelling narrative over hard facts.
